National Foods Ltd. profits fall 35% to Rs. 288 million

By MG News | February 26, 2018 at 11:24 AM GMT+05:00

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National Foods Pakistan today announced financial result for the half year ending December 31^st, 2018. The company release revealed a rise in sales during the period by more than 11% to clock in at 7.63 billion.

On the other hand, the company’s cost of sales grew in tandem of sales by 10%, at 5.017 billion. On the expenses front, company’s Administrative costs took a jump of more than 40% during the period, along with a 28% increase in Distribution costs.

In lieu with the increase in costs the bottom lien profits took a dip downward by more than 35%; standing at 288.602 million against 444.303 million during the same period last year.

The company reported an EPS of Rs. 2.79 vs. an EPS of Rs. 4.29 during half year ending December, 2016.

Comparison of Key Financials
Unconsolidated Profit and Loss Account - For the Half Year Ended, December 2017
Key Financials	2017	2016	% Change
	Amounts in PKR ‘000
Sales	7,630,258	6,833,615	11.66%
Cost of Sales	5,017,397	4,551,407	10.24%
Gross Profit	2,612,861	2,282,208	14.49%
Distribution Costs	1,655,270	1,291,934	28.12%
Administrative Expenses	407,277	281,021	44.93%
Other Expenses	46,780	46,651	0.28%
Other Income	13,264	8,647	53.39%
Operating Profit	516,798	671,249	-23.01%
Finance Costs	49,164	29,467	66.84%
Profit before Taxation	467,634	641,782	-27.14%
Taxation	179,032	197,479	-9.34%
(Loss)/Peofit after Taxation	288,602	444,303	-35.04%
Other Comprehensive Income	-	-
Total Comprehensive Income for the period	288,602	444,303	-35.04%
(Loss)/EPS per share	2.79	4.29	-34.97%

Company release on Earnings Report can be accessed here.

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